Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Sells $69,626.62 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan sold 3,682 shares of Edgewise Therapeutics stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total value of $69,626.62. Following the transaction, the chief marketing officer now directly owns 19,897 shares in the company, valued at approximately $376,252.27. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Edgewise Therapeutics Stock Up 1.2 %

Shares of EWTX opened at $19.52 on Monday. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -12.35 and a beta of 0.15. The company’s fifty day moving average is $16.90 and its 200-day moving average is $12.80. Edgewise Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $20.90.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, February 22nd. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.03). As a group, research analysts predict that Edgewise Therapeutics, Inc. will post -1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wedbush restated an “outperform” rating and set a $26.00 price target on shares of Edgewise Therapeutics in a report on Tuesday, April 16th. Piper Sandler began coverage on shares of Edgewise Therapeutics in a research note on Thursday, March 7th. They set an “overweight” rating and a $48.00 target price for the company. Truist Financial reaffirmed a “buy” rating and issued a $25.00 price target on shares of Edgewise Therapeutics in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada boosted their target price on Edgewise Therapeutics from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $31.20.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EWTX. Quantum Private Wealth LLC lifted its holdings in Edgewise Therapeutics by 2.4% in the 4th quarter. Quantum Private Wealth LLC now owns 63,219 shares of the company’s stock worth $692,000 after purchasing an additional 1,500 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its position in shares of Edgewise Therapeutics by 3.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 116,900 shares of the company’s stock valued at $670,000 after purchasing an additional 3,900 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Edgewise Therapeutics by 29.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,833 shares of the company’s stock worth $228,000 after buying an additional 4,785 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Edgewise Therapeutics by 349.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $80,000 after buying an additional 5,704 shares during the period. Finally, AJOVista LLC acquired a new position in Edgewise Therapeutics in the 4th quarter valued at $84,000.

About Edgewise Therapeutics

Edgewise Therapeutics, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of muscle disorders. Its lead product candidate, EDG-5506, an orally administered small molecule that is in Phase II clinical trials, designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy.